Skip to main content

Entitle Direct releases new guide for comparison shopping

Apr 29, 2010

Entitle Direct has created an informational guide to help consumers benefit from the new Good Faith Estimate (GFE). This is the first in a series of guides from the industry innovator to help demystify real estate financing and empower consumers to take control of the mortgage closing process. The new GFE, which went into effect on Jan. 1, 2010, encourages consumers to first shop and then compare fees from various lenders before choosing a mortgage. It helps consumers understand what services they can shop for, so they not only receive the lowest interest rate and best terms, but save significantly on their closing costs as well. “We published The Smart Consumer’s Guide because we want borrowers to aggressively compare fees from different lenders and third-party service providers, including title insurance companies, before choosing a mortgage,” says Timothy Dwyer, chief executive officer of Entitle Direct Group and founder of ENTITLEDIRECT.COM. “Our guide will help consumers shop for a mortgage, and then compare, analyze and finalize. This important process will help borrowers avoid overpaying in closing costs what they might save with a lower interest rate.” “We started the company in 2006 with the goal of helping consumers take control of the mortgage process and save significantly on closing costs," said Dwyer. "As the country’s first direct-to-consumer title insurance company offering title insurance premiums that are up to 35 percent lower than those offered by competitors, Entitle Direct fully supports the new GFE and other consumer-friendly documents that bring more transparency into the real estate financing process.” The Smart Consumer’s Guide provides a step-by-step explanation of the new GFE, including clear definitions of the document’s financial jargon and layout. It walks readers through each section of the GFE, highlighting ways consumers can compare and lower their financing and closing costs. Key elements include: ►What are the major changes to the GFE? ►Why is there a need for a uniform document? ►What are the loan basics and origination charges? ►How does a borrower compare loans, settlement services and estimated charges from different lending institutions? ►And what circumstances allow lenders to issue a revised GFE? For home buyers, lower closing costs could mean affording a larger home within their current budget, lowering their overall mortgage payments or simply being able to bring less money to the closing table. For home sellers, offering to pay the closing costs for the home buyer can ‘seal the deal.’ “A tip to remember is that the real estate closing involves many parties, from real estate agents and insurance underwriters to the mortgage broker and lending institution," said Dwyer. "Know all the parties involved and keep an open line of communication with all of them.” For more information, visit
About the author
Apr 29, 2010
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024